Federal Register / Vol. 89, No. 32 / Thursday, February 15, 2024 / Notices 11893 

16Supra note 1. 

17See Securities Exchange Act Release No. 51808 

(June 9, 2005), 70 FR 37496, 37499 (June 29, 2005). 

18NetCoalition v. SEC, 615 F.3d 525, 539 (D.C. 

Cir. 2010) (quoting Securities Exchange Act Release 

No. 59039 (December 2, 2008), 73 FR 74770, 74782– 

83 (December 9, 2008) (SR–NYSEArca-2006–21)). 

19 15 U.S.C. 78s(b)(3)(A). 

20 17 CFR 240.19b–4(f). 

21 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 98869 

(November 6, 2023), 88 FR 77625 (November 13, 

2023) (SR–NYSE–2023–36) (‘‘Notice’’). 

4See Securities Exchange Act Release No. 99161 

(December 13, 2023), 88 FR 87829 (December 19, 

2023). 

than 13% of the market share.16

Therefore, no exchange possesses 

significant pricing power in the 

execution of order flow. Indeed, 

participants can readily choose to send 

their orders to other exchange and offexchange venues if they deem fee levels 

at those other venues to be more 

favorable. Moreover, the Commission 

has repeatedly expressed its preference 

for competition over regulatory 

intervention in determining prices, 

products, and services in the securities 

markets. Specifically, in Regulation 

NMS, the Commission highlighted the 

importance of market forces in 

determining prices and SRO revenues 

and, also, recognized that current 

regulation of the market system ‘‘has 

been remarkably successful in 

promoting market competition in its 

broader forms that are most important to 

investors and listed companies.’’ 17 The 

fact that this market is competitive has 

also long been recognized by the courts. 

In NetCoalition v. Securities and 

Exchange Commission, the D.C. Circuit 

stated as follows: ‘‘[n]o one disputes 

that competition for order flow is 

‘fierce.’ . . . As the SEC explained, ‘[i]n 

the U.S. national market system, buyers 

and sellers of securities, and the brokerdealers that act as their order-routing 

agents, have a wide range of choices of 

where to route orders for execution’; 

[and] ‘no exchange can afford to take its 

market share percentages for granted’ 

because ‘no exchange possesses a 

monopoly, regulatory or otherwise, in 

the execution of order flow from broker 

dealers’ . . . .’’.18 Accordingly, the 

Exchange does not believe its proposed 

fee change imposes any burden on 

competition that is not necessary or 

appropriate in furtherance of the 

purposes of the Act. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange neither solicited nor 

received comments on the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act 19 and paragraph (f) of Rule 

19b–4 20 thereunder. At any time within 

60 days of the filing of the proposed rule 

change, the Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. If the 

Commission takes such action, the 

Commission will institute proceedings 

to determine whether the proposed rule 

change should be approved or 

disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s internet 

comment form (https://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include file number SR– 

CboeBYX–2024–005 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street NE, 

Washington, DC 20549–1090. 

All submissions should refer to file 

number SR–CboeBYX–2024–005. This 

file number should be included on the 

subject line if email is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

internet website (https://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for website viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE, 

Washington, DC 20549, on official 

business days between the hours of 10 

a.m. and 3 p.m. Copies of the filing also 

will be available for inspection and 

copying at the principal office of the 

Exchange. Do not include personal 

identifiable information in submissions; 

you should submit only information 

that you wish to make available 

publicly. We may redact in part or 

withhold entirely from publication 

submitted material that is obscene or 

subject to copyright protection. All 

submissions should refer to file number 

SR–CboeBYX–2024–005 and should be 

submitted on or before March 7, 2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.21

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–03098 Filed 2–14–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–99511; File No. SR–NYSE– 

2023–36] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Order 

Instituting Proceedings To Determine 

Whether To Approve or Disapprove a 

Proposed Rule Change Regarding 

Enhancements to Its DMM Program 

February 9, 2024. 

I. Introduction 

On October 23, 2023, New York Stock 

Exchange LLC (‘‘NYSE’’ or ‘‘Exchange’’) 

filed with the Securities and Exchange 

Commission (‘‘Commission’’), pursuant 

to Section 19(b)(1) of the Securities 

Exchange Act of 1934 (‘‘Act’’) 1 and Rule 

19b–4 thereunder,2 a proposed rule 

change to amend its Designated Market 

Maker (‘‘DMM’’) program. The proposed 

rule change was published for comment 

in the Federal Register on November 13, 

2023.3

On December 13, 2023, the 

Commission extended to February 11, 

2024, the time period in which to 

approve the proposal, disapprove the 

proposal, or institute proceedings to 

determine whether to approve or 

disapprove the proposal.4 The 

Commission has received one comment 


khammond on DSKJM1Z7X2PROD with NOTICES
11894 Federal Register / Vol. 89, No. 32 / Thursday, February 15, 2024 / Notices 

5See Letter from Thomas M. Merritt, Deputy 

General Counsel, Virtu Financial, Inc. (‘‘Virtu’’) 

dated January 29, 2024. Virtu supports the proposed 

rule change and states that it will: (i) level the 

playing field regarding access to information among 

different market participants; (ii) eliminate 

restrictions on cell phone communication from the 

floor and the prohibition on aggressing transactions 

during the close that will ensure that all 

participants engaging in market making are on the 

same footing; and (iii) attract new DMMs. 

6 15 U.S.C. 78s(b)(2)(B). 

7See Notice, supra note 3. 

8See Rule 1.1(d) for the definition of ‘‘Core 

Trading Hours.’’ 

9See Rule 6A for the definition of ‘‘Trading 

Floor.’’ 

10See Notice, supra note 3 at 77631. 

11See Rule 7.35(a)(1)(C) for the definition of 

‘‘Closing Auction.’’ 

12See Rule 104(d)(1)(A) for the definition of 

‘‘Aggressing Transaction.’’ 

13See Rule 5.2(j)(3) for the definition of 

‘‘Investment Company Unit.’’ 

14See Rule 8.200 for the definition of ‘‘Trust 

Issued Receipt.’’ 

15Rule 98(b)(4) defines ‘‘Floor-based non-public 

order’’ to mean any order, whether expressed 

electronically or verbally, or any information 

regarding a reasonably imminent non-public 

transaction or series of transactions entered or 

intended for entry or execution on the Exchange 

and which is not publicly available on a real-time 

basis via an Exchange-provided datafeed, such as 

NYSE OpenBook® or otherwise not publicly 

available. Non-public orders include order 

information at the opening, re-openings, the close, 

and order information in Exchange systems that is 

not available via NYSE OpenBook®. 

16Rule 104(d)(3)(A) (PPP Guidelines) states that 

‘‘[t]he Exchange will periodically issue PPP 

Guidelines that identify the price at or before which 

a DMM unit is expected to re-enter the market 

following an Aggressing Transaction. PPPs are only 

minimum guidelines and compliance with them 

does not guarantee that a DMM unit is meeting its 

obligations.’’ 

on the proposal.5 This order institutes 

proceedings under Section 19(b)(2)(B) of 

the Act 6 to determine whether to 

approve or disapprove the proposal. 

II. Summary of the Proposal 

As described in more detail in the 

Notice,7 the Exchange proposes changes 

to its DMM program by (1) amending 

Rule 7.35B(d)(2) (DMM-Facilitated 

Closing Auctions); Rule 36 (Access to 

and Communication with Floor); Rule 

76 (‘‘Crossing’’ Orders); Rule 98 

(Operation of a DMM Unit); Rule 103 

(Registration and Capital Requirements 

of DMMs and DMM Units); Rule 103B 

(Security Allocation and Reallocation); 

and Rule 104 (Dealings and 

Responsibilities of DMMs); (2) deleting 

Rule 104A (DMMs—General) and Rule 

106A (Taking Book or Order of Another 

Member); and (3) adopting a new Rule 

104B establishing the DMM Unit 

Introductory Program in ETPs. 

The Exchange proposes to amend 

Rule 104 to eliminate DMMs’ access to 

aggregate order information during Core 

Trading Hours 8 with exception for 

reopenings and to limit DMMs’ ability 

to utilize and disseminate this 

information to other market participants 

on the Trading Floor 9 when it is 

provided by the Exchange.10

Specifically, in order to facilitate 

openings and reopenings, the Exchange 

proposes to limit DMMs’ access to nonpublic aggregate order information on 

an as-needed basis and only before the 

open or until a security opens for 

trading. Moreover, DMMs’ access to 

aggregate order information to facilitate 

the Closing Auction 11 would be only on 

an as-needed basis and outside Core 

Trading Hours. Further, revised Rule 

104 would continue to permit DMMs to 

provide aggregate order information and 

post-trade information in response to an 

inquiry from a Floor broker, provided 

that aggregate order information can 

only be provided in response to an 

inquiry before the open or until a 

security opens for trading, or while 

trading is halted and only until a 

security is reopened for trading. 

The Exchange also proposes to amend 

Rule 76 to permit the Exchange to 

announce manual cross transactions. 

Namely, rather than perpetuating the 

current practice of a Floor broker 

verbally announcing a cross trade at a 

DMM post/panel and having a DMM 

acknowledge the Floor broker 

announcement, the Exchange would 

announce and acknowledge Floor 

broker cross transactions, thereby 

eliminating any interaction between a 

Floor broker and a DMM during cross 

transactions. 

Based on these changes to Rules 104 

and 76, the Exchange believes it would 

be appropriate to remove the restrictions 

in Rule 36 on a DMM unit’s 

communications from the Trading Floor 

and the specific Rule 98 restrictions 

arising from the presence of Floor-based 

non-public order information. The 

Exchange also believes that these 

changes justify the elimination of the 

prohibition on Aggressing 

Transactions 12 in the final ten minutes 

of the trading day. 

The Exchange proposes to amend 

Rule 36 to permit DMM units to use any 

telephone registered with the Exchange, 

including cellular or wireless 

telephones, to communicate with 

persons off the Trading Floor. A DMM 

would be permitted to engage in direct 

voice communication to an off-Floor 

location with any individual with 

whom telephone communications are 

permitted under Rule 98. DMM units 

would be required to: (i) register, prior 

to use any new telephone, including 

cellular or wireless phones, to be used 

on the Trading Floor; (ii) maintain 

records of the use of telephones and all 

other approved alternative 

communication devices, including logs 

of calls placed; and (iii) establish 

policies and procedures reasonably 

designed to ensure that use of 

telephones and alternative 

communication devices is consistent 

with all SEC rules and Exchange rules. 

In addition, the Exchange proposes to 

delete current Rule 36.30 permitting 

DMMs to use a telephone connection or 

order entry terminal at the DMM’s post 

to enter a proprietary order in an 

Investment Company Unit 13 or a Trust 

Issued Receipt 14 in another market 

center in either a component security of 

an Investment Company Unit or Trust 

Issued Receipt, or in an options or 

futures contract related to such 

securities. 

And related to the proposed changes 

to Rule 36, the Exchange also proposes 

to amend Rule 104(g) to permit 

employees of a DMM unit to 

communicate with a listed issuer 

contact from the Trading Floor via 

telephone or written electronic 

communications, consistent with Rule 

36.30 and Rule 98. 

The Exchange also proposes to amend 

Rue 98 to, among other things, delete 

the definition of ‘‘Floor-based nonpublic order,’’ 15 and delete the 

requirement to protect against the 

misuse of Floor-based non-public order 

information and the requirement to only 

permit access to Floor-based non-public 

order information to Floor-based DMM 

employees and individuals responsible 

for the direct supervision of the DMM’s 

Floor-based operations. Instead, DMMs 

would be prohibited from misusing 

material, non-public information. 

In addition, the Exchange proposes to 

redefine an Aggressing Transaction in 

Rule 104 as a purchase (sale) that 

reaches across the market to trade as the 

contra-side of the Exchange published 

bid (offer) priced above (below) the last 

consolidated trade. Currently, Rule 104 

defines an Aggressing Transaction as a 

DMM unit transaction that is a purchase 

(sale) that reaches across the market to 

trade as the contra-side to the Exchange 

published offer (bid), and is priced 

above (below) the last differently-priced 

trade on the Exchange and above 

(below) the last differently-priced 

published offer (bid) on the Exchange. 

The Exchange also proposes to make 

DMM re-entry, following an Aggressing 

Transaction, on the opposite side of the 

market at or before the applicable Price 

Participation Point (‘‘PPP’’) 16 for that 

security to be more deterministic. 

Namely, rather than the current 

requirement that DMMs re-enter 

‘‘commensurate with the size of the 


khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 89, No. 32 / Thursday, February 15, 2024 / Notices 11895 

17Rule 35.20 requires each DMM unit to have (1) 

at least one employee approved by the Exchange for 

admittance to the Floor for every Post space 

assigned to the unit, and (2) an adequate number 

of additional approved employees to provide proper 

service during the trading day. 

18The Exchange also proposes other changes, 

including: (1) deleting Rules 104(e) (Trading Floor 

Functions of DMMs) and (f) (Temporary DMMs); (2) 

deleting Rule 103B(III)(C) (DMM One Year 

Obligation); (3) deleting Rule 7.35(d)(2) (Publication 

of Manual Closing Imbalance); (4) deleting Rule 

104A, Supplementary Material .50 (Equity Trading 

Reports); and (5) other technical changes described 

in the Notice. 

19 15 U.S.C. 78s(b)(2)(B). 

20 15 U.S.C. 78f(b)(5). 

21 15 U.S.C. 78f(b)(8). 

22 DMMs also have the affirmative obligation to 

maintain quotes in their assigned securities at the 

inside market a specified percentage of time. See 

Rule 104. 

Aggressing Transaction,’’ the Exchange 

proposes to require re-entry to be in the 

same size as the Aggressing Transaction. 

Further, the Exchange proposes to 

eliminate DMMs’ restriction against 

Prohibited Transactions—the 

prohibition on DMMs engaging in 

Aggressing Transactions during the last 

ten minutes prior to the scheduled close 

of trading. 

Finally, the Exchange proposes a 

DMM Unit Introductory Program in 

ETPs (the ‘‘Program’’), which would be 

set forth in proposed Rule 104B(a). The 

Program would be open to all member 

organizations in good standing 

registered as a non-DMM Market Maker 

or a Supplemental Liquidity Providers 

on the Exchange. The Program is limited 

to exchange traded products and is 

designed to provide eligible member 

organizations with a 12-month ramp up 

period to becoming fully operational, 

Trading Floor-based DMM units. As 

proposed, during the 12-month Program 

period, DMM units and their DMMs 

would be subject to the duties and 

responsibilities set forth in Rules 104 

and 98. Further, DMMs operating in the 

Program would be permitted to conduct 

business for the DMM unit such as 

entering orders and quotations for the 

account of the DMM unit during the 

Program. In addition, the proposed rule 

would provide that during the 12-month 

Program period, DMM units would not 

be required to comply with the 

requirements of Rule 35.20 17 regarding 

personnel available to DMM units on 

the Trading Floor.18

III. Proceedings to Determine Whether 

To Disapprove SR–NYSE–2023–36 and 

Grounds for Disapproval Under 

Consideration 

The Commission is instituting 

proceedings pursuant to Section 

19(b)(2)(B) of the Act 19 to determine 

whether the proposal should be 

disapproved. Institution of such 

proceedings is appropriate at this time 

in view of the legal and policy issues 

raised by the proposal, as discussed 

below. Institution of disapproval 

proceedings does not indicate that the 

Commission has reached any 

conclusions with respect to any of the 

issues involved. Rather, as described in 

greater detail below, the Commission 

seeks and encourages interested persons 

to provide additional comment on the 

proposal. 

Pursuant to Section 19(b)(2)(B) of the 

Act, the Commission is providing notice 

of the grounds for disapproval under 

consideration. The Commission is 

instituting proceedings to allow for 

additional analysis of the proposed rule 

change’s consistency with Section 

6(b)(5) of the Act,20 which requires that 

the rules of an exchange be designed, 

among other things, to prevent 

fraudulent and manipulative acts and 

practices, to promote just and equitable 

principles of trade, to remove 

impediments to and perfect the 

mechanism of a free and open market 

and a national market system and, in 

general, to protect investors and the 

public interest. In addition, Section 

6(b)(5) of the Act prohibits the rules of 

an exchange from being designed to 

permit unfair discrimination between 

customers, issuers, brokers, or dealers. 

Further, Section 6(b)(8) of the Act 

requires that the rules of an exchange 

not impose any burden on competition 

that is not necessary or appropriate 

under the Act.21

The Exchange proposes a 

comprehensive change to its rules 

pertaining to the obligations of DMMs 

based on its contemporaneous proposal 

to eliminate DMMs’ access to intraday 

aggregate order information except 

under certain circumstances and DMMs’ 

interaction with Floor brokers during 

cross transactions. Chief among the 

changes, the Exchange proposes to 

eliminate the Prohibited Transactions 

rule; eliminate rules designed to 

mitigate concerns related to DMM 

communication from the Trading Floor 

with certain off-Floor locations; and 

eliminate rules designed to mitigate the 

misuse of Floor-based non-public order 

information. 

Given the scope of changes proposed 

by the Exchange, the Commission 

analyzes the proposal in the context of 

the unique role played by DMMs on the 

Exchange, namely their role to assist in 

the maintenance of a fair and orderly 

market in securities for which they have 

been assigned responsibility as the 

DMM (e.g., the maintenance of price 

continuity with reasonable depth) and 

to facilitate certain transactions in their 

assigned securities, most notably the 

opening, reopening, and closing 

auctions.22 And because the Exchange’s 

proposal would significantly alter the 

benefits and obligations of DMMs, the 

Commission takes into consideration 

questions as to whether the Exchange 

rules, as amended, would continue to 

strike an appropriate balance between 

such benefits and obligations, consistent 

with Section 6 of the Act. 

One obligation that the Exchange 

proposes to delete is the negative 

obligation the Exchange currently 

imposes on DMMs to restrict aggressive 

trading in the last ten minutes before the 

close, i.e., Prohibited Transactions. This 

raises questions as to whether the 

elimination of Prohibited Transactions 

is both consistent with a DMM’s 

obligation to maintain a fair and orderly 

market and, more generally, designed to 

prevent fraudulent or manipulative acts 

and practices. According to the 

Exchange, the deletion is appropriate 

because: removing DMMs’ intraday 

access to aggregate order information 

would place DMMs on the same 

informational footing as all other market 

participants; the proposal would retain 

the re-entry requirement following an 

Aggressing Transaction; and there may 

be a variety of reasons related to the 

DMM unit’s obligations to the 

marketplace for a DMM to quote 

aggressively in its assigned securities at 

the close. In light of the Exchange’s 

arguments, the Commission seeks 

comments on whether commenters 

agree. Has the Exchange adequately 

justified how allowing DMMs to 

aggressively take liquidity and 

potentially move prices on the Exchange 

immediately before the closing auction 

is consistent with the Act and DMM 

obligations under Exchange rules? 

Another issue raised by the 

Exchange’s proposal is whether the 

changes are adequately designed to 

mitigate concerns related to access by 

DMMs to non-public information from 

the Trading Floor. According to the 

Exchange, based on its proposal to limit 

DMMs’ access to aggregate order 

information intraday, and to remove 

DMMs from involvement in manual 

cross transactions, it is appropriate to 

delete the restrictions on DMM 

communications from the Trading 

Floor, including restrictions involving 

Floor-based non-public order 

information. Applying the same 

rationale, the Exchange also proposes to 

delete its rule prohibiting DMM 

communications with a listed issuer 

contact from the Trading Floor via 


khammond on DSKJM1Z7X2PROD with NOTICES
11896 Federal Register / Vol. 89, No. 32 / Thursday, February 15, 2024 / Notices 

23 15 U.S.C. 78f(b)(5). 

24 17 CFR 240.19b–4. 

25Rule 700(c)(2) of the Commission’s Rules of 

Practice provides that ‘‘[t]he Commission, in its sole 

discretion, may determine whether any issues 

relevant to approval or disapproval would be 

facilitated by the opportunity for an oral 

presentation of views.’’ 17 CFR 201.700(c)(2). 26 17 CFR 200.30–3(a)(12). 

telephone, and proposes instead to rely 

on the requirement that DMMs comply 

with current Rule 98 and the Exchange’s 

proposed general requirement that 

DMM units establish policies and 

procedures reasonably designed to 

ensure that the use of communication 

devices is consistent with all SEC rules 

and Exchange rules. DMMs, however, 

have a unique position on the Trading 

Floor and would still have access to 

non-public aggregate order 

information—namely before the open or 

until a security opens for trading; while 

trading is halted and until a security is 

reopened for trading; and after the end 

of Core Trading Hours. DMMs would 

also continue to have the ability to 

observe negotiations and other 

interactions on the Trading Floor. 

Accordingly, Commission seeks 

comments regarding the sufficiency of 

the remaining Exchange rules to address 

concerns regarding the unique access to, 

and potential misuse of, non-public 

trading, issuer, and other information, 

including the Floor-based non-public 

order information as it is currently 

defined in the rules. Do the changes to 

remove DMMs’ access to intraday 

aggregate order information and 

eliminate DMMs’ involvement in cross 

transactions sufficiently limit DMMs 

ability to obtain non-public information 

such that prescriptive restrictions on 

DMM communication from the Trading 

Floor, including those listed issuer 

contact, is no longer necessary? Do they 

mitigate concerns that restrictions 

pertaining to Floor-based non-public 

order information are meant to address? 

In addition to the above requests for 

comments, the Commission also seeks 

comments regarding the Exchange’s 

proposal relating to the following: 

1. The Exchange proposes to use the 

last consolidated trade rather than the 

last trade on the Exchange in the 

definition of Aggressing Transaction. 

The Exchange states that the last 

consolidated trade is a more meaningful 

benchmark for the underlying security. 

What effect would this change have for 

the operation of Rule 104? 

2. The Exchange proposes to delete 

Rule 104A in its entirety, including 

DMM recordkeeping and/or reporting 

obligations pertaining to securities, 

options, single stock futures, and foreign 

securities. According to the Exchange, it 

is appropriate to delete the rule as it is 

duplicative of Exchange and SEC books 

and recordkeeping requirements. Do 

commenters agree? Why or why not? 

3. The Exchange also proposes to 

delete in Rule 36.30 the provision that 

stipulates that DMMs can only enter 

proprietary order in Component 

Securities of Investment Company Units 

or Trust Issued Receipts for the purpose 

of hedging a position in the Investment 

Company Units or Trust Issued 

Receipts. According to the Exchange, 

this provision is obsolete but does not 

explain why. Do commenters agree with 

the Exchange’s statement that the 

provision is obsolete? 

IV. Procedure: Request for Written 

Comments 

The Commission requests that 

interested persons provide written 

submissions of their views, data, and 

arguments with respect to the issues 

identified above, as well as any other 

concerns they may have with the 

proposal. In particular, the Commission 

invites the written views of interested 

persons concerning whether the 

proposal is consistent with Section 

6(b)(5) 23 of the Act or any other 

provision of the Act, or the rules and 

regulations thereunder. Although there 

do not appear to be any issues relevant 

to approval or disapproval that would 

be facilitated by an oral presentation of 

views, data, and arguments, the 

Commission will consider, pursuant to 

Rule 19b–4 under the Act,24 any request 

for an opportunity to make an oral 

presentation.25

Interested persons are invited to 

submit written data, views, and 

arguments regarding whether the 

proposal should be approved or 

disapproved by March 7, 2024. Any 

person who wishes to file a rebuttal to 

any other person’s submission must file 

that rebuttal by March 21, 2024. 

Comments may be submitted by any 

of the following methods: 

Electronic Comments 

• Use the Commission’s internet 

comment form (https://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include file number SR– 

NYSE–2023–36 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street NE, 

Washington, DC 20549–1090. 

All submissions should refer to file 

number SR–NYSE–2023–36. This file 

number should be included on the 

subject line if email is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

internet website (https://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for website viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE, 

Washington, DC 20549, on official 

business days between the hours of 10 

a.m. and 3 p.m. Copies of the filing also 

will be available for inspection and 

copying at the principal office of the 

Exchange. All comments received will 

be posted without change. Persons 

submitting comments are cautioned that 

we do not redact or edit personal 

identifying information from comment 

submissions. You should submit only 

information that you wish to make 

available publicly. All submissions 

should refer to File Number SR–NYSE– 

2023–36 and should be submitted by 

March 7, 2024. Rebuttal comments 

should be submitted by March 21, 2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.26

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–03100 Filed 2–14–24; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF STATE 

[Public Notice: 12332] 

30-Day Notice of Proposed Information 

Collection: Individual, Corporate or 

Foundation, and Government Donor 

Letter Applications 

ACTION: Notice of request for public 

comment and submission to OMB of 

proposed collection of information. 

SUMMARY: The Department of State has 

submitted the information collection 

described below to the Office of 

Management and Budget (OMB) for 

approval. In accordance with the 

Paperwork Reduction Act of 1995 we 

are requesting comments on this 

collection from all interested 

individuals and organizations. The 


khammond on DSKJM1Z7X2PROD with NOTICES